In responding to a sea change in customer demand and expectations, more businesses continue to rapidly move beyond traditional one-time sales business models to embrace business models based on rules-based pricing and recurring revenue streams. From SaaS businesses and leasing firms to new-media properties and transportation companies, organizations are striving to increase their agility to drive deeper engagement with customers.
But that also translates into significant financial and operational challenges for recurring billing and revenue management. How can you scale your operations to support greater complexity and greater transaction volumes? As a first measure, many organizations logically rely on their existing ERP and custom-built systems– before they realize that those systems lack the functionality and flexibility required to support rapidly-evolving pricing and billing scenarios. Next, those organizations turn to internal IT teams to determine if a new in-house system can fill the gap. In the following pages, we explain how legacy ERP and custom systems cannot address the requirements of modern business practices and fall short of the capabilities delivered by an agile, next-generation monetization platform.
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